The Price of Peace: The Future of Defense Industry and High Technology in a Post-Cold War World

The end of the cold war, the dissolution of the Soviet Union, the wane of communism world-wide, and the quick victory in the Gulf have all led to calls for cutting the defense budget, reducing levels of military personnel, and cutting back on expensive high technology weapons. The result of these cutbacks is not the peace dividend, according to Gregory, but a further burden on our already slow economy. Up to a million defence workers could lose their jobs in the next few years. In addition, huge reductions in government-sponsored research and development will hurt both defence and commercial industries. Gregory explains the little-known and wide-ranging effects the defence cutbacks will have on the nation and calls for a new national technology policy that will ensure our military and economic survival.… (more)